Deposits in foreign currency prevail in Azerbaijan

Deposits in foreign currency prevail in Azerbaijan
# 05 August 2009 15:03 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. As of July 1, foreign currency deposits accounted for 57% of deposits held in Azerbaijan-based commercial banks (excluding deposits by non-residents), said the Central Bank of Azerbaijan.

According to statistics, deposits by residents amounted to AZN 3.2 billion, AZN 1.82 million of which was in foreign currencies.

The share of home-currency deposits varied between 41% on July 1, 2008 and 45% on January 1, 2009.

The share of home-currency deposits was 18% in 2003, 19% in 2005 and 39% in 2007.
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